How Does Minnesota Law Affect you When you Buy Property in a Common-Interest Community?
Smith Jadin JohnsonA “common-interest community” is one in which you buy an individual unit but have access to shared facilities. They include condominiums, townhomes, coops, and other housing developments comprised of individually owned units, in addition to shared facilities and common areas. In a common-interest community, you pay an annual assessment to cover the upkeep of the shared facilities and common areas.…